Base oils shipments from the Saudi Arabian ports of Yanbu and Jeddah fell in February for a second month, with a slowdown in flows to UAE and India.Total shipments of around 30,000t from Yanbu and Jeddah combined in February fell from more than 40,000t in January and from more than 90,000t in December, shipping data showed.The fall in shipments coincided with moves by vessel operators to avoid the Red Sea region since the start of the year and to instead divert cargoes via southern Africa instead.The moves complicated voyage plans for shipments everywhere from the Americas to the Mideast Gulf and Asia.The moves were even more complicated for base oils shipments from the ports of Yanbu and Jeddah, which are situated in the Red Sea region.A base oils shipment from Yanbu to South Africa in January travelled via western Africa, with a travel journey of around 40 days.Previous shipments from Saudi Arabia to South Africa travelled via eastern Africa and took less than a month to arrive.The slowdown in shipments from Yanbu and Jeddah showed signs of extending into March, boosting the need for regular buyers to line up alternative supplies.A surge in base oils exports from South Korea to the UAE in February is likely to partially cushion the slowdown.The discount of US Group II base oils prices to CFR India prices widened even more over the past month, ICIS data showed.The unusually wide discount sustained strong interest in moving more arbitrage shipments from the US to India..India’s February base oils imports fall.Saudi Arabia’s Jan Yanbu/Jeddah exports fall.S Korea Feb base oil exports to UAE rise
Base oils shipments from the Saudi Arabian ports of Yanbu and Jeddah fell in February for a second month, with a slowdown in flows to UAE and India.Total shipments of around 30,000t from Yanbu and Jeddah combined in February fell from more than 40,000t in January and from more than 90,000t in December, shipping data showed.The fall in shipments coincided with moves by vessel operators to avoid the Red Sea region since the start of the year and to instead divert cargoes via southern Africa instead.The moves complicated voyage plans for shipments everywhere from the Americas to the Mideast Gulf and Asia.The moves were even more complicated for base oils shipments from the ports of Yanbu and Jeddah, which are situated in the Red Sea region.A base oils shipment from Yanbu to South Africa in January travelled via western Africa, with a travel journey of around 40 days.Previous shipments from Saudi Arabia to South Africa travelled via eastern Africa and took less than a month to arrive.The slowdown in shipments from Yanbu and Jeddah showed signs of extending into March, boosting the need for regular buyers to line up alternative supplies.A surge in base oils exports from South Korea to the UAE in February is likely to partially cushion the slowdown.The discount of US Group II base oils prices to CFR India prices widened even more over the past month, ICIS data showed.The unusually wide discount sustained strong interest in moving more arbitrage shipments from the US to India..India’s February base oils imports fall.Saudi Arabia’s Jan Yanbu/Jeddah exports fall.S Korea Feb base oil exports to UAE rise